Ethiopian Youth Entrepreneurs Association (EYEA) and Commercial Bank of Ethiopia (CBE) pen a Memorandum of Understanding (MoU) at the seventh round of Zelela, a policy advocacy and networking platform.
The seventh round of Zelela, themed “From Innovative Ideas to Commercialization” was held on July 15, 2023, at CBE’s headquarters, with the aim of unlocking financial constraints of young entrepreneurs through innovative and tailored products.
Pursuant to the agreement, EYEA will focus on due diligence data of member entrepreneurs while CBE will avail loans and other banking facilities based on the data. The commercial bank is also said to provide the necessary facilitation to finance the EYEA-certified member entrepreneurs, subject to such terms as may be specified by the CBE.
According to the statement provided by EYEA, the parties will work on a mutual basis on various initiatives for EYEA’s member entrepreneurs as may be agreed between the parties from time to time.
